V8 Gourmet, the operator of the Tiffinbites and Bombay Bicycle brands, has been acquired out of administration by businessman Saeeda Jaffery, for an undisclosed sum, M&C Report understands. The company was placed into administration for the second time on 13 June, only two weeks after new backer Calleon Ltd had taken on the debt of the troubled business from its former backer Indian bank ICICI. Jaffery, who is believed to have also been involved in the Calleon deal, is thought to have acquired out of administration eight Bombay Bicycle Club sites, a single Tiffinbites unit, the Khana airline catering business, the Silk events business and the Vama wholesale operation. The deal is also thought to include the Bombay Bicycle concessions in Harrods and Selfridges. It is thought that Jaffery will look to roll out the Bombay Bicycle chain. V8 made a pre-tax loss of £2.6m in 2009, against sales of £10.4m. The company was understood to be making a loss of £200,000 a month before it was placed into administration. Nimish Patel and Finbarr O’Connell from recovery specialist Re10 were appointed as joint administrators to V8 and said that the business had received a significant level of interest. Patel said: "From the time Re10 was appointed as administrator on 13 June, our prime concern was to secure the future of the business, including its 264 members of staff, which we thankfully did, just 10 days later.” The company, which was bought out of administration in 2009 with the help of Indian actress Shilpa Shetty, had been in talks with would-be investors since March after it received a winding up order from HM Revenue & Customs, before falling into administration in June. Earlier this year, the company, which at one point operated up to 17 sites under the Bombay Bicycle and Tiffinbites chains, had asked property advisors to dispose of 10 outlets, predominantly in London. Arjun Varma, former managing director, who left the company with his brother, Andy, earlier in June, is thought to be looking at opportunities to launch a new fine dining restaurant and catering business in the capital.